Kurow-Duntroon Irrigation Company saved from liquidation

Kurow-Duntroon Irrigation Company saved from liquidation
The priority to keeping irrigation water flowing stopped creditors closing down an indebted project. (Image: Deposit Photos)
Riley Kennedy
Creditors of a North Otago irrigation scheme owed more than $50 million have approved a deed which staves off liquidation.In May, the Kurow-Duntroon Irrigation Company (KDIC) was put into receivership and voluntary administration by government entity Crown Irrigation Investment Ltd (CIIL).This followed an adjudication process which found KDIC was liable to pay Monadelphous (MENZ) about $12.8m following a dispute over a $45m project the Australian engineering group was undertaking for the company.The community-owned irrigation company had been m...

More Finance

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025
$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025
Michael Lorimer exits Grant Samuel amid more sector change
Finance

Michael Lorimer exits Grant Samuel amid more sector change

Lorimer has sold his 80% stake in the corporate advisory firm.

Duncan Bridgeman 26 Jun 2025